Ira contributions during 72t distributions
I apologize if this has been answered previously, but I couldn’t find the answer in the archives.
Can a person taking a 72t distribution from his/her ira make contributions to that ira, or another ira they hold, assuming they meet all other criteria?
thanks!
Permalink Submitted by Alan Spross on Wed, 2008-04-23 20:44
They can make contributions to a new IRA or to another IRA that is NOT part of the 72t plan, often referred to as the “SEPP universe”. They cannot contribute to an IRA that is part of the plan without busting the plan.